Royalty Pharma (NASDAQ:RPRX) Hits New 52-Week High – Here’s What Happened

Royalty Pharma PLC (NASDAQ:RPRX) reached a new 52-week high during trading on Monday . The stock traded as high as $56.57 and last traded at $56.5070, with a volume of 957999 shares traded. The stock had previously closed at $56.23.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RPRX. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. UBS Group lifted their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley raised their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $53.71.

Royalty Pharma Stock Up 0.8%

The firm’s fifty day moving average price is $52.81 and its 200-day moving average price is $46.64. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market capitalization of $32.63 billion, a P/E ratio of 38.55, a PEG ratio of 1.55 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The business had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. As a group, equities research analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.235 per share. The ex-dividend date was Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 9,098 shares of Royalty Pharma stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $55.18, for a total transaction of $502,027.64. Following the transaction, the executive vice president directly owned 9,099 shares of the company’s stock, valued at $502,082.82. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the transaction, the director directly owned 191,803 shares in the company, valued at approximately $10,165,559. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 323,492 shares of company stock worth $17,160,920 over the last 90 days. 18.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royalty Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of RPRX. Nomura Asset Management Co. Ltd. boosted its stake in shares of Royalty Pharma by 16.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock worth $6,662,000 after acquiring an additional 24,048 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Royalty Pharma in the 4th quarter valued at $4,923,000. Qsemble Capital Management LP purchased a new position in Royalty Pharma in the 4th quarter worth about $2,875,000. Regal Partners Ltd increased its stake in Royalty Pharma by 6.7% in the 3rd quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock worth $50,631,000 after purchasing an additional 89,930 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Royalty Pharma by 4.7% during the 4th quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock worth $31,604,000 after buying an additional 36,664 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.